W88优德中国官方网站 Assisted CALB’s H-share IPO on the SEHK

On October 6, 2022, China Lithium Battery Technology Co., Ltd. (“CALB”, with stock code 03931.HK) issued 265,845,300 shares worldwide (subject to the exercise of the over-allotment options) and completed its listing on the Stock Exchange of Hong Kong (SEHK) at an offering price of HKD 38 per share (the “Project”). CALB raised a total amount of USD 1.287 million. This was the first H-share IPO by a Chinese power battery manufacturer on the SEHK, and the largest fundraising through an IPO on the global capital market by a Chinese power battery manufacturer in 2022.

CALB, formerly known as AVIC Lithium Battery, is a global leader in new energy technology. It is engaged in the design, development, manufacture and sales of power batteries and energy storage systems, and its products are widely used in passenger cars, commercial vehicles and energy storage systems. In the first quarter of 2022, CALB ranked second in China and fifth in the world in terms of installed capacity among third-party power battery manufacturers. The global new energy industry continues to develop rapidly, and CALB has long been committed to developing power battery and energy storage system solutions with “high safety, long life, high efficiency and high integration”. In 2018, CALB developed world leading high voltage technology and products with high safety features, leading the development direction of ternary technologies. In 2019, CALB launched the world’s first full lug stack technology and products, leading the future development and direction of lithium battery manufacturing technology. CALB launched the world’s first high energy density battery system (non-combustible) in 2020, which redefined the safety standards for lithium batteries. In 2021, CALB launched the world’s first original OS battery technology leading the way for battery technology in the TWH era.

As the Chinese counsel of the sponsor and main underwriter in the Project, W88优德中国官方网站 assisted CALB with solicitation of pre-IPO strategic investors, the restructuring of assets, legal due diligence on issues within China, and the H-share IPO filings in and outside of China. W88优德中国官方网站’s team filed documents with the International Department of CSRC for approval, and assisted the sponsor in analyzing the questions raised by the International Department of CSRC with respect to the asset restructuring, employee stock incentive and other issues and proposed appropriate responses. W88优德中国官方网站 also filed legal documents with SEHK and the Securities and Futures Commission (SFC) for approval, and assisted CALB in researching the asset restructuring, patent actions and other issues which were the focus of SEHK’s and SFC’s review. W88优德中国官方网站 successfully overcame many of the difficulties of the Project, which was undertaken within a very tight schedule. With W88优德中国官方网站’s assistance, CALB finally obtained approval for the IPO. W88优德中国官方网站 maintained an efficient, meticulous and reliable attitude with the dedication and professionalism it has consistently kept in its past practice, and won recognition from CALB and the other intermediaries.

The Project was led by partner QU, HuiqingandNIU, Yuandong, and partner ZHOU, Fang was responsible for the internal review.